§ 5-901. Definitions

   (a) In general. -- In this subtitle the following words have the meanings indicated.

(b) Acquire. -- "Acquire" means:

   (1) For one bank holding company to merge or consolidate with another bank holding company;

   (2) For a bank holding company to assume direct or indirect ownership or control of:

      (i) More than 5 percent of any class of voting shares of another bank holding company or a bank; or

      (ii) All or substantially all of the assets of another bank holding company or a bank; or

   (3) To take any other action that results in the direct or indirect control by a bank holding company of another bank holding company or a bank.

(c) Affiliate. -- "Affiliate" has the meaning stated in § 5-401 of this title.

(d) Bank. -- "Bank" has the meaning stated in § 2(c) of the Bank Holding Company Act.

(e) Bank holding company. -- "Bank holding company":

   (1) Has the meaning stated in § 2(a) of the Bank Holding Company Act; and

   (2) Unless the context requires otherwise, includes:

      (i) A Maryland bank holding company;

      (ii) An out-of-state bank holding company;

      (iii) A foreign bank holding company; and

      (iv) A corporation or other entity that becomes a bank holding company by making an acquisition under this subtitle.

(f) Bank Holding Company Act. -- "Bank Holding Company Act" means the federal Bank Holding Company Act of 1956.

(g) Bank supervisory agency. -- "Bank supervisory agency" means:

   (1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of Foreign Assets Control, and any successor to these agencies;

   (2) Any agency of another state with primary responsibility for chartering and supervising banks; and

   (3) Any agency of a foreign country with primary responsibility for chartering and supervising banks.

(h) Control. -- "Control" has the meaning stated in § 2(a) of the Bank Holding Company Act.

(i) Deposit. -- "Deposit":

   (1) With respect to any bank holding company other than a foreign bank holding company, has the meaning stated in 12 U.S.C. § 1813(l); and

   (2) With respect to a foreign bank holding company, has the meaning stated in the law of the country in which the holding company is organized or incorporated.

(j) Foreign bank holding company. -- "Foreign bank holding company" means a bank holding company with its principal place of business outside the United States.

(k) Insured depository institution. -- "Insured depository institution" means any financial institution the deposits of which are insured by the Federal Deposit Insurance Corporation.

(l) Maryland bank. -- "Maryland bank" means a bank that is:

   (1) Organized under Title 3 or Title 4 of this article; or

   (2) Organized under federal law and having its main office in this State.

(m) Maryland bank holding company. -- "Maryland bank holding company" means a bank holding company that:

   (1) Had its principal place of business in this State on the later of July 1, 1966 or the date on which the company became a bank holding company; and

   (2) Is not controlled by a bank holding company other than a Maryland bank holding company.

(n) Out-of-state bank holding company. --

   (1) "Out-of-state bank holding company" means a bank holding company that is not a Maryland bank holding company.

   (2) "Out-of-state bank holding company" includes a foreign bank holding company.

(o) Principal place of business. -- "Principal place of business" means the jurisdiction in which the total deposits of a bank holding company's bank subsidiaries are the greatest.

(p) State. -- "State" means any state, territory, or other possession of the United States, including the District of Columbia.

(q) Subsidiary. -- "Subsidiary" has the meaning stated in § 2(d) of the Bank Holding Company Act.

HISTORY: 1995, ch. 213, § 2; 1996, ch. 326, § 2, 3; 2011, ch. 109.